Tax & Penalty21 Sept 2026, 05:50 pm
Voltas receives Show Cause Notice for ₹15.43 Cr tax, ₹14.79 Cr penalty
AI Summary
Voltas Ltd has received a Show Cause Notice dated September 18, 2026, from the Deputy Commissioner State Tax, Mumbai. The notice alleges wrongful availment of Input Tax Credit and short payment of tax for the financial year 2022-23 under the CGST, MGST, and IGST Acts. It demands a tax amount of ₹15.43 crores along with interest and a penalty of ₹14.79 crores. The company is currently evaluating the matter and plans to submit its reply within the stipulated timeframe. Voltas has stated that this notice will not have a material impact on its financials, operations, or other activities.
Key Highlights
- Voltas received a Show Cause Notice from State Tax authorities.
- Notice alleges ₹15.43 Cr tax and ₹14.79 Cr interest/penalty.
- Pertains to wrongful ITC and short tax payment for FY2022-23.
- Company is evaluating the matter and will submit a reply.
- No material impact on financials or operations is expected.
Price Impact
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